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Record €5.6 billion raised by European & Israeli companies (download full 2017 Q2 VC report)

Written on July 16, 2017 by Yoram Wijngaarde

Following the release of preliminary Q2 figures on 2 July, the Full European 2017 Q2 venture capital report is now published. The conclusion remains: investors are betting on European tech companies at a record pace, investing €5.6 billion including Israel, or €5.0 billion excluding Israel. This figure excludes lending capital, buyouts, secondary transactions and debt.

Mega-rounds such as Farfetch and Improbable were key drivers behind this trend. However, even without these mega-rounds, this was one of the most active quarters ever by the amount of venture capital invested into European companies:

  • Excluding the 3 largest rounds: €4.4 billion (vs. in €3.9 billion Q1 2017, the previous record)
  • Excluding the 10 largest rounds: €3.5 billion (vs. in €3.0 billion Q3 2015, the previous record)

Download the full European 2017 Q2 venture capital report

32 pages of stats and key insights

Contact us with any questions

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Dealroom’s Presentation from XXII ACCIÓ Investment Forum in Barcelona

Written on July 16, 2017 by Yoram Wijngaarde

On July 6th, entrepreneurs and investors met at ACCIÓ’s XXII Investment Forum in Barcelona, Catalonia’s most important event on the field.

Over 700 people attended the event, including many prominent investors such as Index Ventures, Hoxton and many others. Read more about the event itself here. Dealroom’s founder Yoram Wijngaarde gave the keynote, titled “Is it morning in European tech?” which is available here:

Mobile app intelligence: partnership with Priori Data

Written on July 5, 2017 by Yoram Wijngaarde

We’re very pleased to announce a new data partnership with Priori Data, the Berlin based provider of mobile app intelligence.

Here are a few simple example queries that are now possible:

Top 5% fastest growing apps at Series-A stage in Europe

Top 25% fastest growing apps in Berlin

Top 25% fastest growing apps in Europe without known VC funding

The App Growth Rank is a composite ranking calculated by Dealroom based on size-adjusted growth in cumulative app installs during the last 6 and 12 months. Each individual company profile (such as Telegram) provides the underlying data used (iOS and Android).

At the bottom of each chart, a link is provided to the relevant Priori Data app page for further information.

Start exploring App Growth Rankings

 

About this partnership

Dealroom aggregates various growth signals to identify rising stars, to rank & sort results, and to benchmark peers and competitors. Until now, these growth signals primarily depended on website visitors, social media engagement and funding momentum. Being able to tap into app store data has always been high on our wish-list.

After an initial trial period with Priori Data (with outstanding results), we came away extremely impressed with the team and the data. For Dealroom, this partnership is another big step in overall comprehensiveness and value proposition.

If you would like to learn more about how the combination of this data can assist you, please contact [email protected]

About Priori Data

Priori Data offers a powerful market intelligence platform that enables companies to build long-term winning strategies in the mobile app market.

Utilizing a partner-first approach, Priori Data offers best-in-class data to provide a comprehensive picture of global consumer behavior with mobile apps.

Priori Data’s products give users the ability to track, benchmark, and research the performance of any relevant mobile app or publisher, delivering critical competitive intelligence and market insights.

With modular pricing and unparalleled service, Priori Data builds long-term relationships with the most ambitious companies on their path to mobile market success.

For more information, please visit prioridata.com

Sneak preview: record €5.5 billion raised by European & Israeli companies (slide-deck)

Written on July 2, 2017 by Yoram Wijngaarde

UPDATE: the full 29 page Q2 venture capital report is now available here.

While we are still gathering data, it seems safe to say that, with more than €5.5 billion venture capital raised by European companies, this second quarter of 2017 sets an all-time record. This figure includes Israel, and excludes lending capital, buyouts, secondary transactions and debt (Auto1 Group’s €285m debt raise is excluded).

On Dealroom you can track venture capital trends in real-time. Click the image below (or here) to see the latest Q2 data with underlying rounds (or check out the funding heatmap).

The sharp growth in funding is partly driven by several mega-rounds that some would say don’t fit the traditional definition of venture (but then again, venture is evolving, just like the industries it invests in). However, even without these mega-rounds this was one of the most active quarters ever, as the following slide-deck shows.

Click on the below image or here to open the mini slide-deck:

UPDATE: the full 29 page Q2 venture capital report is now available here.

Final note: more funding basically means more bets are being placed. The outcome of these bets will become clear in the next 10 years (some much sooner). More funding isn’t necessarily always better (as opposed to, say, GDP, sales or profit, where more is generally better). Because of this, we try (but not always succeed!) to avoid terms like “strong quarter” or “great numbers” when funding is concerned.

UK tech: going stronger than ever in Q2 2017

Written on June 21, 2017 by Yoram Wijngaarde

Despite all the political upheaval, UK’s tech and venture capital are going stronger than ever in Q2 2017. And it is not just Improbable and Farfetch. A long-tail of smaller rounds all add up, as the below table shows (click on image).

The UK is followed by Germany and France, as the below heatmap shows (click image to open interactive heatmap):

Q2 is not over yet. In a few weeks we will release the full Q2 report with more details. Also see Dealroom’s Q1 venture capital report.

Vilnius tech map launched

Written on June 8, 2017 by Yoram Wijngaarde

Lithuania’s capital, Vilnius just launched a tech map, powered by Dealroom. Vilnius now becomes part of an extensive network of similarly crowd-sourced and Dealroom-powered tech maps (Amsterdam, StartupDelta, Techstars, the European Commission, …). The map was initiated by Go Vilnius, a public institution.

The Baltics (Estonia, Lithuania and Latvia) are like Europe’s Israel, punching well above their weight as tech hubs as the below chart shows.

Notable Lithuanian companies

About Dealroom Ecosystem Solutions

Fully managed tech maps such as these are part of Dealroom’s suite of Ecosystem Solutions, which includes:

  • Crowd-sourced maps (build communities)
  • Insights: analytics dashboards for policy makers and ecosystem enablers
  • Policy decision support tools: benchmarking, tech employment impact analysis and other bespoke research solutions
  • Advisory solutions: accelerating development of ecosystems

If you’d like to learn more about Dealroom Ecosystem Solutions please contact us now.

Launch Vilnius Tech Map

Finally Online: Europe’s 500 Most Prominent Venture Capital Investors

Written on June 7, 2017 by Yoram Wijngaarde

Back in April, Dealroom published a preliminary ranking of Europe’s 500 most prominent venture capital investors (see April post). The ranking has already been published by Business Insider, Corriere della Sera, and many others. Feedback and input was received from numerous VCs.

Now this ranking is finally online!

This means you can now search & filter the list by criteria such as location, industry experience, country experience, location. Here are just some examples of what is possible:

Over 10,500 investors were reviewed for this top ranking: funds, corporate investors, angels, accelerators and crowdfunding platforms. The rankings per country are as follows:

Country#1#2#3#4#5
AllIndex VenturesHoltzbrinck VenturesBalderton CapitalNorthzoneLakestar
United KingdomIndex VenturesBalderton CapitalAtomicoDN CapitalGeneral Atlantic
GermanyHoltzbrinck VenturesRocket InternetHigh-Tech GründerfondsWellington PartnersActon Capital Partner
Israel83NorthCarmel VenturesPitango Venture CapitalJerusalem Venture PartnersOurCrowd
FranceOleg TscheltzoffIdInvestPartech Ventures360 Capital PartnersXavier Niel
SwedenNorthzoneCreandumIndustrifondenInvestment AB KinnevikVostok New Ventures
SwitzerlandLakestarRedalpineNovartis Venture FundSwisscom VenturesRingier
SpainNauta CapitalCaixa Capital RiscYsios CapitalCabiedes & PartnersJose Marin
IrelandEnterprise IrelandAtlantic BridgeKernel CapitalAIB Seed Capital FundDelta Partners
NetherlandsNewion InvestmentsEndeit CapitalPrime VenturesINKEF CapitalArthur Kosten
FinlandNokia Growth PartnersLifeline Ventures OyInventureConor Ventures PartnerTekes
BelgiumGIMVHummingbird VenturesCapricorn Venture PartnersPMVFortino
ItalyInnogest CapitalP101United VenturesL-Venture GroupItalian Angels for Growth
NorwayVerdaneInvestinorSchibsted Media GroupAlliance VentureViking Venture
DenmarkSunstone CapitalSeed Capital DenmarkBonnierDanish Growth FundNovo A/S
AustriaSpeedinvestAustria Wirtschafts serviceRene GiretzlehnerAlfred LugerFlorian Gschwandtner
PolandMCI ManagementRTAventuresInnovation NestExperior Venture FundHedgehog Fund

All the received input and feedback from numerous venture capital firms has been reflected. But you can still provide us with info as we will keep updating the ranking regularly.

Below is an FAQ based on the questions we’ve received.

  1. How is the ranking calculated?
    The ranking is based on nine different indicators which look at: investment activity, current portfolio size and quality, and (successful) exits. See bottom of this blog post for more detail on the nine indicators.
  2. What is the goal of this ranking?
    The main goal is to make it easier to see which investors you should consider in various cases such as:
    – A founder looking for capital
    – An investor looking for co-investors
    – A corporate M&A team looking for VC portfolios to explore
    – An LP exploring and comparing different funds
    A secondary goal is to have a logical way to sort results. Dealroom counts over 6,500 tech investors active in Europe. After sorting by relevance, most circumstances require the dataroom to have a secondary way to sort results.
  3. How can I improve my ranking?
    Firstly, we need to make sure all data is up to date (check online here). You can contact us or you can register for free, claim your account and add data directly yourself or ask us to update. 
  4. How can I provide feedback on the methodology?
    We welcome feedback on methodology and will consider it carefully. You can write us here or reach out via Twitter.
  5. Why did you include corporate funds and rankings?
    We deliberately made the ranking as inclusive as possible, because the lines between investor types are blurring. If anything, angels and corporates are at a disadvantage. The list enables you to filter any way you like: to show investment funds only use this filter.
  6. Our fund is still new, so we are at a disadvantage
    Track-record is a key attribute for any investor’s standing in the world. The ranking wouldn’t be complete without measuring it. New funds are inherently at a disadvantage in this respect. However, Dealroom is contemplating another future ranking of first-time funds.
  7. Is the ranking based on Europe only?
    Emphasis is placed on European investments, activity and performance (see full methodology at the bottom). The location of the investor was not a factor, so the ranking includes many U.S. based investors.
  8. Investor X is a top performing fund. Why is it not ranked higher?
    The ranking is not a purely performance-based, but performance does play a big role. Firstly, information on investment returns is highly imperfect. Secondly, while performance is the most important measure for LPs, it is not the only thing that counts for many other stakeholders. For example, Scottish Equity Partners is a fund with an exceptional track-record, but happens to have been less active during the last year and therefore isn’t ranked as prominently as one might expect.

Ranking methodology

The ranking is based on the following nine indicators, each with equal weighting:

  1. Portfolio size in Europe = number of portfolio companies in Europe (incl. Israel), all time
  2. Number of rounds in last 12 months = number of rounds which investor participated in during last 12 months
  3. Deal size in last 12 months (€ millions) = total aggregate size of rounds which investor participated in during last 12 months
  4. Exit score  = number of exits relative to total portfolio, all time
  5. Exits number = number of exits, global
  6. Number of exits > €100 millions (total firm value, all time)
  7. Number of exits > €500 millions (total firm value, all time)
  8. Number of portfolio companies valued over €500 millions, all time
  9. Capital efficiency = total € amount of all exits relative to the € amount of capital invested (total of rounds which investor participated in, all time)

If you have any other questions, please contact us on Twitter.

Go to Investor Prominence Ranking

 

Dealroom growth rank, explained

Written on June 1, 2017 by Yoram Wijngaarde

All companies on Dealroom.co are ranked and can be filtered by their so called growth rank. The growth rank is based on estimated website visitor growth (we use Alexa and SimilarWeb). Growth is calculated for the last 6 and 12 months, both adjusted for the base the company is growing from.

Estimated website visitor growth is a highly imperfect but still extremely useful real-time growth signal, enabling you to sort and filter companies by estimated traction. We recently made some upgrades to the algorithm resulting in better results.

You can simply add & remove filter criteria, to compare similar companies. Pro tip: estimated website visitor growth has proven to be a useful indicator for B2B companies as well, contrary to popular belief. You can also compare companies within any geography. For example: the top 10 Spanish companies by growth rank.

The algorithm and growth signals will be continuously improved. Stay tuned as very soon more growth metrics will be added (separately and as combined rank)!

Click here to see the European top-10

Searching & filtering: important changes to free vs. paid features

Written on May 28, 2017 by Yoram Wijngaarde

At Dealroom we strive to provide maximum value to all users, whether you are a founder, angel, VCs, or corporate executive. After reviewing the way people use our product, we made some significant changes to the free version of the product. If you are a free user there is some good news and some bad news, but on the whole we believe this change makes the platform more versatile and accessible across our entire user base.

The “good” news: as a free user, you will now be able use the powerful search & filter functionality (see GIF above). Previously this was a paid feature. This will allow you to find the information you want with less hassle. The “bad” news is that we there is a limit placed on the number of results: up to 10 companies and up to 25 investors.

Faceted search & filter: the easiest way to make detailed searches for high-growth companies and their investors

To use this feature today, go to the keyword bar and start to type or select the tags you want to search with. You can combine any amount of tags, such as the following:

  • Industry (e.g. “travel”)
  • Business model (e.g. “marketplace”)
  • Head office location (e.g. “London” or “United Kingdom”)
  • Valuation
  • Revenues
  • Growth stage
  • Last funding round
  • Ownership type

If you would like to exclude any criteria from your search, you can do that too:

Start searching today

 

€3bn sale of Bureau van Dijk to Moody’s: a closer look

Written on May 22, 2017 by Yoram Wijngaarde

Credit ratings agency Moody’s Corp will buy financial information provider Bureau van Dijk for €3 billion (about $3.3 bn). Founded in 1991 in Brussels (and currently headquartered in Amsterdam), Bureau van Dijk (BvD) aggregates and sells financial and other information, and has been profitable from the start.

The majority-seller is EQT Private Equity, which is estimated to make a return of about 45% anually (IRR) and a multiple of 2.8x on their original investment. BvD has also undergone four (!) leveraged buyouts, respectively by Candover Partners (in 2004), BC Partners (2007), Charterhouse (2011), EQT Private Equity (2014).

The valuation implies an 2016 EBITDA multiple of 22.7x (based on reported 2016 EBITDA of €132m) and an estimated 2017 EV/EBITDA of 20.7x (EBITDA of €145m based on 10% estimated annual growth). This multiple seems high for a single-digit growth company, but Moody’s is anticipating large synergies, reducing the pro-forma multiple closer to around 15x, which is in line with previous similar transactions. Moody’s said it will fund the deal through a combination of offshore cash and new debt financing.

The BvD database covers about 220 million companies (data somewhat similar to DueDil). BvD has in the meantime diversified its data offering by adding M&A data and intelligence, as well as news stories on deals and rumours (similar to MergerMarket). The majority of its 800 employees focus on sales, marketing and customer support in 30 offices around the globe. BvD is well known by most who have ever worked as analyst or researcher at a large firm, in a world where comprehensive private company information is scarce.